Set in Melbourne in the mid-1970s, Cut Snake tells the story of Sparra Farrell (Alex Russell), an ex-convict who is trying to make a new life for himself in a new city. He has found honest work and even becomes engaged but the prospect of this new life is challenged when his foreboding and charismatic cell mate Pommie (Sullivan Stapleton) tracks him down upon his own release. Sparra finds himself enigmatically drawn back toward a world and a man that he was certain he had wanted to leave behind.

The independent and lonely hunter Martin David is hired by the powerful biotech company Red Leaf to hunt down the last Tasmanian tiger. Red Leaf is interested in the DNA of the animal and Martin travels to Tasmania alone. He poses as a researcher from a university and lodges in the house of Lucy Armstrong. Martin learns that Lucy's husband has been missing for a long time and he befriends her children, Sass and Bike. When Martin goes to the village, he has a hostile reception from the locals. Along the days, Martin spends his days in the Tasmanian wilderness chasing the Tiger and becomes closer and closer to the Armstrong family. But Red Leaf wants results no matter the costs.